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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Chip McVickar who wrote (12078)	1/8/1999 9:18:00 AM
From: Patrick Slevin	Read Replies (1) of 44573

Oh, I don't know if the professionals want to close it; it's just a normal phenomenon. Yeah on Thursday there was a gap down which was filled and on Wednesday there was a full Sell Gap which was not. There are gaps going back to the crash in the 1920's that have never been filled, gaps don't have to be filled. It's just a phenomenon that people look for; usually they do eventually get filled. The Sell Gap Wednesday was 5.50 points and the gap from Close to Open was 11.20 points on the SP9H. There was no gap in the Cash. This makes the case for closing the spoo gap a weak one. But people still watch for it because it's such a common occurrence. If the market were to start to roll in that direction, as it tried to do yesterday....came within a point and a half of where I was going to add on, darnit....you would tend to see people getting out with an eye at getting back in once the gap is filled. But nooooooo, Ground Zero has to start a Mass Panic Buying frenzy by loading the boat before it got low enuf. Don't you hate these guys who manipulate the market with a few critically placed Buy Orders?

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